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HELVERING v. BANKLINE OIL CO.

No. 387.

303 U.S. 362 (1938)

HELVERING, COMMISSIONER OF INTERNAL REVENUE, v. BANKLINE OIL CO.

Supreme Court of United States.

Decided March 7, 1938.

Attorney(s) appearing for the Case

Assistant Solicitor General Bell, with whom Solicitor General Reed, Assistant Attorney General Morris, and Messrs. Sewall Key, A.F. Prescott, and Warner W. Gardner were on the briefs, for the Commissioner.

Mr. Martin J. Weil, with whom Mr. A.L. Weil was on the briefs, for the Bankline Oil Company.

MR. CHIEF JUSTICE HUGHES delivered the opinion of the Court.

No. 387. — This case presents the question whether respondent, the Bankline Oil Company, is entitled to an allowance for depletion with respect to gas produced from certain oil and gas wells. The ruling of the Board of Tax Appeals that the taxpayer had no depletable interest (33 B.T.A. 910) was reversed by the Circuit Court of Appeals. 90 F.2d 899. Because...

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